SMG SM 131 Lecture Notes - Lecture 2: Corporate Social Responsibility, Robert Reich, Creating Shared Value

• School: Boston University
• Department: School of Management
• Course: SMG SM 131
• Professor: Fatema Fazendeiro

Document Summary

Actions or program that go beyond what the law requires and beyond the interests of the rm. There is one and only one social responsibility of business - tu use its resources and engage in activities designed to increase its pro ts so long as it stays within the rules of the game. Undemocratic to spend the shareholders money on social purposes. Corporations should sacri ce pro ts for sake of social goods (csr), is undemocratic and does more harm than good. Defeats purpose of government and role of politicians. Within super-capitalism, relying on csr divers attention from the more dif cult but more important job of government, which is to make laws that protect an advance the common good. Csr de ects public attention from bad corporate conduct and need for stricter laws and lets politicians off the hook. Csr initiatives do not result in giving up pro ts.